Sage 50 Accounting uses linked accounts to update all related accounts automatically when you process a transaction. Linked accounts reduce the amount of time you spend assigning amounts to your accounts whenever you process a transaction.
For example, whenever you make a sale, the amount your customer owes you increases, the quantities in inventory decrease, and Sage 50 Accounting records any sales taxes, freight charges, and early-payment sales discounts in the proper accounts.
- If you selected the option to have Sage 50 Accounting create a list of accounts for you when you set up your company, you probably already have linked accounts in place for certain transactions.
- If you created the list of accounts yourself or you imported your account list, you will have to set up linked accounts for transactions.
To add or make changes to your linked accounts, edit them one at a time, or use the Linked Accounts Wizard to add or edit several linked accounts at once.
Payroll Expense Groups
(Sage 50 Premium Accounting)
You can create payroll expense groups that allow you to create groups of linked accounts for the same payroll expenses. Employee salaries can then be associated with a specific group of linked accounts.